Innospec (IOSP) FY2018 results: revenue $1.5 billion, up 13.0% on the year
Innospec Inc. (IOSP) reported revenue of $1.5 billion for fiscal 2018, the year ended 31 December 2018, up 13.0% on the year before. Net income was $85 million, up 37.5%, and diluted earnings per share $3.45. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2019.
Revenue
$1.5 billion
+13.0% on the year
FY2011FY2018
Operating margin
9.0%
9.6% a year earlier
FY2011FY2018
Net income
$85 million
+37.5% on the year
FY2011FY2018
Diluted EPS
$3.45
+36.9% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
1,477
1,307
883
+13.0%
Cost of revenue
1,042
904
551
+15.3%
Gross profit
435
403
332
+7.9%
Gross margin
29.5%
30.9%
37.6%
Research and development
33.4
31.4
25.4
+6.4%
Selling, general and administrative
261
244
217
+6.9%
Operating income
134
125
98.2
+6.8%
Operating margin
9.0%
9.6%
11.1%
Interest expense
6.5
7.2
2.6
-9.7%
Pre-tax income
132
128
103
+2.7%
Income tax
46.6
66.3
21.8
-29.7%
Effective tax rate
35.4%
51.8%
21.1%
Net income
85.0
61.8
81.3
+37.5%
Net margin
5.8%
4.7%
9.2%
Diluted EPS
$3.45
$2.52
$3.33
+36.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
105
82.7
106
+26.8%
Capital expenditure
28.9
23.3
16.5
+24.0%
Free cash flow
76.0
59.4
89.0
+27.9%
Free cash flow margin
5.1%
4.5%
10.1%
Cash from investing
-35.5
-29.6
-209
Cash from financing
-36.2
-66.4
69.5
Depreciation and amortisation
49.6
50.4
38.1
-1.6%
Share-based compensation
4.9
4.1
3.3
+19.5%
Buybacks
1.4
1.1
8.4
+27.3%
Dividends paid
21.7
18.6
15.9
+16.7%
Dividend per share
$0.89
$0.77
$0.67
+15.6%
Diluted shares, weighted
25m
24m
24m
+0.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
825
794
654
+3.9%
Non-controlling interest
0.5
0.4
0.3
+25.0%
Debt
208
218
269
-4.9%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
440
398
259
+10.8%
Total liabilities and equity
1,473
1,410
1,181
+4.5%
Fixed assets
196
196
157
+0.2%
Goodwill
365
362
375
+0.9%
Intangible assets
136
163
144
-16.5%
Investments
n/a
n/a
0.0
Cash and equivalents
123
90.2
102
+36.5%
Receivables
280
244
154
+14.4%
Inventory
248
210
174
+18.2%
Other assets
125
145
74.7
-13.6%
Total assets
1,473
1,410
1,181
+4.5%
10-K for the year ended 31 December 2018, filed 20 February 2019: the filing.